By Anton Eljwizat
The USD has dropped significantly versus the CHF in the past few days, and it is currently traded around 0.9180. And now as evident in the data below, the 8-hour chart is giving bullish signals, indicating that USD/CHF pair might go up. Forex traders can take advantage of this impending movement by having their Entry Orders in place to capture this reversal.
• Below is the 8-hour chart of the USD/CHF currency pair.
• The technical indicators that are used are the William Percent Range, Relative Strength Index (RSI), and Slow Stochastic.
• Point 1: The Slow Stochastic indicates a bullish cross, signaling that the next move may be in an upward direction.
• Point 2: The Relative Strength Index (RSI) indicates that the price of this cross currently floats in the oversold territory, signaling upward pressure.
• Point 3: The Williams Percent Range shows that this pair was heavily over-sold peaked near the highest mark it could reach, and then turned a corner and now stands in a bullish posture.
USD/CHF 8-Hour Chart
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
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